Posted on 01/15/2016 5:36:10 AM PST by Citizen Zed
1. China bear: The Shanghai Composite closed down 3.6% Friday, more than 20% below its recent high.
2. Oil below $30: Crude oil futures remain as volatile as ever, and are down nearly 5% -- crashing below $30 in morning trading.
3. More stock market movers: Anglo American, GE, Fiat Chrysler: Continuing the theme of battered commodities, Anglo American (AAUKF) is down another 8% in early trading.
GE (GE) has agreed to sell its appliance business to China's Haier for $5.4 billion.
4. Earnings: Wells Fargo (WFC), Citigroup (C), U.S. Bancorp (USB), PNC (PNC), and BlackRock (BLK) are expected ahead of the open.
5. Economics: At 8:30 am ET, a U.S. retail sales report for December 2015 is due from the Census Bureau, and the Bureau of Labor Statistics will have December's producer price index.
Also at 8:30 am, the Federal Reserve Bank of New York will post the Empire Manufacturing Survey for January. The Federal Reserve's report on industrial production and capacity utilization is expected at 9:15 am. Then, at 10 am, the University of Michigan will update its consumer sentiment index for January.
6. Markets overview: European markets are all in the red in early trading, while Asian markets also ended down, with Hong Kong off by 1.5% and the Nikkei down 0.5%.
(Excerpt) Read more at money.cnn.com ...
Like a floating turd in a flushing toilet.
Sailing on on into the perfect storm.
If you could turn Wall Street over you would find “Made in China” stamped on the bottom.
Since oil is used in so many products, I would expect the price drop in oil to make some manufacturers stocks go up. What am I missing?
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